MarketAxess has announced Charles Li as the new member of its Board of Directors, effective July 13, 2021, as the firm continues to grow in the Asia-Pacific region.
Trading activity from Asia-based participants on MarketAxess totaled $23.9 billion in trading volume in 2Q21, up 37% year-over-year, highlighting the continued digitization of the Asian bond markets.
The former Chief Executive of Hong Kong Exchanges and Clearing Ltd (HKEX), who served at the largest exchange operator from 2010 to 2020, orchestrated HKEX’s expansion into fixed income, currency and commodities through the acquisition of the London Metal Exchange in 2012 and the launch of OTC Clear in 2013, as well as enhanced mutual market access with Mainland China through the Shanghai and Shenzhen Stock Connect Programs and the Bond Connect initiative.
Prior to that, he was Chairman of JP Morgan China from 2003 to 2009. He was also President of Merrill Lynch China, a bank which he worked for since 1994.
Rick McVey, Chairman and Chief Executive Officer, said: “We are thrilled to add Charles to the MarketAxess Board of Directors at a time when fixed income markets are expanding rapidly in the Asia region, and electronic trading is accelerating.
“As Chief Executive of HKEX, Charles led the firm through a decade of rapid growth by adding new asset classes and embracing electronic trading. His knowledge of market structure in Asia will be invaluable to MarketAxess as we expand our investment in the region.”
“Ever since my involvement with the launch of Bond Connect, I have closely followed the development of the leading global fixed income trading platforms, such as MarketAxess, and believe that they will play important roles in the internationalization of the Asian bond markets”, said Charles Li.
“I admire the impressive track record of MarketAxess and I am truly excited to join the Board at a time when electronic trading adoption is growing in global fixed income markets, particularly as MarketAxess is creating a centralized global electronic marketplace through international expansion. The Asia region is growing rapidly and it is a great time for me to join a global leader in fixed income electronic trading.”